Skip to main content

tv   Bloomberg Markets  Bloomberg  October 8, 2015 3:00pm-4:01pm EDT

3:00 pm
pimm: from bloomberg world headquarters in new york, good afternoon. i am pimm fox. markets moving higher after the release of the federal reserve minutes. the s&p 500 topping 2000 for the first time this month and oil increasing to two dollars per barrel. markets are unclear about the direction in washington after the stunning news that representative kevin mccarthy pulls out of the race for speaker of the house. we will look at the next in line . bill gross, the bond king, sues -- he cofounded over 40 years ago. are there any winners in gross versus pimco? we will find out. we are one hour from the close of trading.
3:01 pm
going to the markets desk where julie hyman has a look at what is going on. have seen the reaction that is largely a positive one for risk assets. the highest the session. the s&p 500 now breaching 2000 for the first time since the sharp selloff in august. it had made a couple of runs to 2000 and then sailed around that level. this movement mirrored in the other major averages. the dow, which had been the leader, nonetheless rising to the highs of the session as well. imagese basically mirror of the variouses industries. even though there does not aim to be anything that new or revealing in the minutes, more of confirmation of what market participants have been talking lookinghat the fed is at global risk. the fed officials say it is likely to see an increase at the
3:02 pm
end of the year. the nasdaq, which had been the laggard of the day turning positive. a little bit of a delayed reaction, but definitely a positive one and all was said and done. that is equities, but what about other asset classes we saw a movement behind the other asset classes. if you look in the dollar, treasuries, gold, what have you. starting with the dollar, a little bit more of a comeback move in the dow. in other words, the dow initially falling on their perception rates will stay low, but then bouncing and then seeing that movement happen in the treasury market as well. we saw the 10 year yields move lower, and then move higher. a little bit of a curious situation, the reed versus stocks. also, the interesting note from hsbc earlier saying i've and
3:03 pm
2016 rates will fall to 1.5%. looking at gold prices as well to see what the reaction has been there. there you saw an increase in gold prices. then a decline in gold prices. ,t is a little bit confounding the reaction overall to the fed minutes. just the mention we will have all color earnings after the close so we kick off another quarter of earnings releases. julie: something else investors are looking forward to. pimm: now, a check on headlines on the first words news this afternoon. not going to mark crumpton. a stunning development on capitol hill, house majority leader kevin mccarthy no longer in the running to succeed outgoing speaker john boehner. minute before -- minutes before party voting, mccarthy dropped his bombshell. he told fellow republicans he is not the rant -- not the right
3:04 pm
man for the job. made aboutments he the benghazi committee investigation and how it affected democratic presidential -- candidates hillary .linton poll numbers affected >> this was created for one person -- one reason, to find the truth. i should not be a distraction from that. that is part of the decision as well. boehner says he will say on sp kinds of the house find someone to replace him. michael horton says his company is looking at compensating owners of diesel powered cars that have devices set up to cheat on u.s. emissions test. the comments come as german authorities investigating raided thegander homes of several employees today. more than four dozen officials searched the factories.
3:05 pm
documents into electronic files were reportedly siege. hungary is given european union and nato countries to greenlight to help defend borders as europe continues to struggle through the migrant crisis. to 1000 troops from allied nations to participate in the patrol in defense of hungary's orders. they will hold joint exercises and assist hungarian troops. 4700 soldiers are patrolling the border with serbia and croatia. the fbi says it is doing a better job of screening refugees with possible links to terrorism. the bureau has developed effective ways to log into all databases and gather information before the screening process. despite the breakthrough, the director says some cap still remain and there are always risks attached to welcoming migrant into the u.s.. several long-range russian crews members intended for syrian target missed the mark and ended
3:06 pm
up in iran. the extent of the damage is unknown. the u.s. depend -- defense department official that is not authorized to comment publicly puts the number at 4. at the firstk words news right now. you can always find the latest news at bloomberg.com. thank you. market volatility declined just as the federal reserve released the meeting minutes today at overeastern with concern global risk. that is what delayed the increase in interest rates. -- experts higher than volatility in the future. the chief global strategist at charles schwab and joins us from austin. before we get to the whole idea of volatility and kevin mccarthy somethingce, focus on no one has really talked about, the transpacific trade partnership. how is that relevant to making investment decisions?
3:07 pm
a pretty big is deal. there is a lot of questions about whether it is a good thing or bad thing, but i think it is an unequivocally good thing for japan. japan has very few protectionist toicies when it relates manufacturing. they're not losing domestic protections, but they are gaining a lot of low-end tariffs around the world. the u.s. applies 25% tariff on japanese-matrox. 3% on tvs. these are about 50% of the manufactured goods. the japanese manufacturers that have been struggling lately, this is a real shot in the arm. if we can do it -- get the deal done, i think it will be a big plus. pimm: if you are an investor will beieves the tpp accepted and approved by the u.s. congress, is there an investment to be made. do you need to change the
3:08 pm
portfolio allocation. >> i think you need to look at the exposure to asia. other concerns with regard to the region. slowing down.been japan appears as kind of a shining. market may continue to be a strong market. i think we should take another look at asia and focus on japan. pimm: i want to take you from japan to have a look at what is going on in europe and mario draghi, ahead of the european central bank, is his action increasing liquidity in the eurozone, is that going to help equities? is a real plus. there are questions about whether qe helps the economy but we know it with asset prices. i think we're likely to see increased emphasis on that. we know it lives asset prices in the u.s., stocks particular syria i think it will work in europe.
3:09 pm
look backime we could to seeing a big boost in money supply. 1493. the columbus day weekend. when columbus began to bring this back from the new world, increasing the new money supply, it turned around inflation in europe. maybe that happens again. i would bet more on the asset prices it ended inflation in europe. up.: asset prices going come closer to home and tell me what is going on for example in canada as an opener for what is going on in commodity-driven economies. have really seen weakness in canada. i mention australia, brazil. there are many developed markets of commodityot exposure. china states like -- straight with one giant energy stock. certainly suffering lately, recently slipped into recession.
3:10 pm
this is not the stock market you want to look at dental unabomber .onfidence around energy prices i think there is sometime before we get enough demand to offset the burgeoning supply around the world. pimm: is it possible as an investor what you want to do is why when everyone else is selling. you want to buy things that are being up, then nobody wants. >> to do that, you have to have a very long time horizon. i think there may be values for a very long time horizon. pimm: what is a long time horizon and the viewer jeff? >> seinfeld>> i think you have to look up 3-5 years. i think you have to look up 3-5 years. i would be focused on technology and financials. i think they are likely to lead to better results in the near term. and the learals term. three to five years.
3:11 pm
jeff klein joining us from boston. then mccarthy bows out of race for house speaker. he stuns washington in the process. we want to know what a republican -- what a republican theparty take over? managing director christine lagarde calls the global uneven andcovery modest. we will get her thoughts from the international monetary fund meeting in lima coming up. netflix raises the price of the most popular plan by one dollar per month. is that a big enough price increase to scare away some customers or will they just keep watching? more on that next. ♪
3:12 pm
3:13 pm
3:14 pm
pimm: good afternoon. this is the bloomberg "market day." i am pimm fox. time now for our business flash. deutsche bank/-- the link credit default swap worth $250 billion. that is according to people familiar with the matter. deutsche bank is in talks with j.p. morgan and several other large banks. they struck a similar deal with citibank to solo portfolio worth 250 billion. the transaction goes through it would help you leverage by 225 billion dollars. a have new details on tentative deal between fiat chrysler and the united auto workers. the offerler raised to second-tier workers. wages will go to as high as $29
3:15 pm
an hour of from $25 originally proposed. the raises under the tentative pact voted down that is expected to remain the same. to votedecide whether on the deal in detroit tomorrow. the ferrari name and status of the supercar driving up the initial offering. people say it could go higher than $12 billion. the ipo price range could come as early as tomorrow. you can always get more business news at bloomberg.com. turning our attention to world leaders meeting in the muck, peru. this week discussing the british sluggish economy. christine lagarde -- christine
3:16 pm
lagarde spoke to bloomberg television earlier today and said the federal reserve own guideline may prevent it from raising rates. >> when an authority says we will be data dependent and to inflation's will be in -- interdependent, inflation numbers have to be solid. there is not much on that horizon. neither on inflation nor wages. >> madame lagarde added china's slowing economy will have a larger than expected spillover effect around the world. she said it may take some time for global economies to adjust to china's economic transition. >> china is moving unpredictably so from an address -- investment driven model.
3:17 pm
when talking about quality growth that is what we have in mind. lagarde speaking to bloomberg television from lima, peru. more coming up from joseph stiglitz. still ahead, the house majority deliversevin mccarthy a stunner on capitol hill, choosing not to run for house speaker. the republican leadership in limbo. we will have the latest. ♪
3:18 pm
3:19 pm
pimm: this is the bloomberg "market day." on capitol hill this afternoon. kevin mccarthy jump -- dropping out of the race for house speaker on the day's party was expected to nominate him to replace john boehner. >> i will stay on as majority
3:20 pm
leader but the one thing i have found when talking to everybody if we are going to unite and be strong, we need a new face to help do that. more joining us now with detail is mark halperin. on with thegoing gop? >> people underestimated the difficulty of john boehner's job well he didnd how it. you have a very conservative group of health republicans who do not want compromise on the things coming up. the big fights will affect the economy known -- almost matter how they come out. doin mccartney's ability to his job given the skills set and the dynamics and politics of house of representatives was very limited. i think he is a genius for not taking the job. you think this is something he decided he did not
3:21 pm
have to to do? >> i think he wanted to do it but relies it would be impossible to succeed. we are on the brink of two, more significant but two very significant things. passing some sort of budget extension. pimm: that is understood, but what are the reasons? he has to go behind closed doors at one point and say here are the reasons why a personal level and professional level i have decided i'm not going to do this. what are the reasons for him saying no? we will have to wait for this to play out. at least part of the reason was everybody watching knows it is a two-step process. today was the day he was supposed to become by a majority vote republican candidate for speaker. weekshere will be a few where everyone would vote.
3:22 pm
i don't think he had 218 votes. i don't think he thought he was going to get to hundred 18 vote. pimm: in other words, he looked at the map and said the map is not going to work so rather than go through the process and lose, i want to bow out now. >> in addition, whoever the next speaker is will have to figure out how to get the votes to raisethe debt ceiling and the debt ceiling. the way john boehner has done that is to turning the floor over to the democrats. it barely. away with he was either find a way to get republicans to vote for this or let democrats vote for this. neither the republican or the white house once to see brinkmanship over the debt ceiling going into default. you mentioned john
3:23 pm
boehner. here is what john boehner said when he released -- released a statement today. he said after leaders of the house they will not vote today for a new speaker. had saids i have previously i will service big rental the house votes to elect the new speaker. we will announce a date at a later date, and i am confident we will elect a new speaker in the coming weeks. plus a lot of truth in that state may set for the part where he says he is confident. no one could be confident. said this could have at any time along the way. none of this is new news. mark: kevin mccarthy was the establishment. is in thend establishment.
3:24 pm
he could have let it go forward. the establishment is not comfortable with those two guys. the needle that has to be threaded is can you find someone the establishment is comfortable message too signed a the rebels, the very conservative members who do not want business as usual that this person can be there person? two. pimm: who is going to be the next be gripped the house? >> two games. one is paul ryan. he does not want to do it. mccarthy in an interview said he wants the interview. the other person, a congressman from oklahoma named tom cole. a former political consultant. could do it. he has good relationships across the aisle. i am not sure that is going to happen. if you ask me today to put five
3:25 pm
down on someone to be the next speaker, i would go with tom cole. five.just a if this is the way republicans are running their own business, what do you says about the electorate to be a cohesive force in the legislature? >> most of the people crossing the problem don't care. pimm: they don't care the way looks to the public? mark: most of the republican conservatives who do not want business as usual, they -- their districts are drawn to be very safe. the people in their districts say government shutdown, bring it on. government going to default in order to send a message to barack obama? bring it on. in almost every case their constituency is dominated by people who applaud the notion of let's get rid of business as usual. sound like cutting off
3:26 pm
your nose to spite your face. turning our attention now coming up, speaking with ben carson. ben carson, has a new book out. we did a focus group in iowa and new hampshire where he did quite well. we will talk about the house of representatives and what he thinks their party should do to solve the problem. we will forward to it coming up at 5:00 eastern. mark halperin and john heilemann. taking on, bill gross pimco. the bonking suing his former employer for the way it was ousted. ♪
3:27 pm
3:28 pm
3:29 pm
pimm: live from bloomberg world headquarters in mentone, manhattan. i am pimm's. we want to begin with a check of
3:30 pm
the headlines on the bloomberg first word news. mark crumpton has more from the news desk. nikki haley is urging thousands of people who live in low lighting coastal areas to evacuate. officials are expecting more flooding in the next 12 hours as down swollenlows rivers to the coast. hurricane joaquin that one state agriculture officials said may have resulted in $300 million in crop losses. at least 19 people in south and north carolina have died due to the storm. oklahoma governor mary fallin has halted all of occasions in this date. her order follows the local newspaper report that prison officials use the wrong drug to stop an inmate's heart in january. the oklahoma state attorney general office is investigating. the associated press says the death toll from the stampede
3:31 pm
during the holy poker mitch is now more than 1250, much higher than the 700 69 figure put out by saudi authorities. greek prime minister alexis sailed through a confidence both concluding a three-day debate on the government policy program. the governing coalition received the backing of all 155 lawmakers the 300 seat parliament. the top u.s. commander in the guinness dan says at least 60% of the taliban may be open to peace talks with the country government. john campbell put -- made the push before the government today for more u.s. forces to stay in afghanistan beyond 2016. that is why the white house once to reduce troop to 1000. the international soccer star will be tried in spain for text fraud. the judge requested to clear the barcelona striker, deciding to
3:32 pm
charge him with defrauding sprain -- defrauding spain of nearly 5 million in taxes. he used offshore companies to avoid pink caps on his sons earnings. you can only find the latest news at bloomberg.com. thank you very much. seems like it could have been a potential red card. going to our markets desk clerk julie hyman has a look at some of the days movers. julie: starting with a mover that is the best performer in the s&p 500 and i had never heard of the company until today, called columbia pipeline group of a 7%. this is a spinoff. that is why i had not heard of it. in utility company earlier the year was upgraded to buy from hold over at jefferies. analyst citing a recent pullback in the shares as a reason to come in. the added benefit of rising with the energy complex.
3:33 pm
we have seen that broadly happening. i wanted to update you on this board we have been watching all day, dell and ian's need. -- emc. in a in talks with emc deal between the companies. we have seen them gain strength. they own a majority stake and a lower under one potential scenario they would go private as part of dell. they would remain the publicly traded entity of its. there are still a lot of analyst during the deal and to western comes saying is it really likely that it would be difficult to finance and difficult to execute . we have been watching the online shopping companies today. channel advisor out with a share for comparable sales rising at a lower rate in september than they did in august for ebay and amazon. amazon reportedly having the lowest rate of increase since february 2011.
3:34 pm
we are been watching epsy as well as amazon. online bloomberg terminal to get a quick look at ebay and paypal. since the spinoff of the two companies, both of them are lower. paypal down by 20%. ebay down 16%. they have this misfortune of spinning off the day the market made the high on july 20 pimm: yes, a lot of competition for ebay. now turning our attention to pimco. pimco has responded to bill it has nouit saying merit. bill gross suing his former employer and parent company for hundreds of millions of dollars over his ouster. bill gross claims he was wrongfully pushed out because of greedy executives. mary child's joins us for the very latest.
3:35 pm
tell us anything that has happened as the day has progressed. qwest there has been a lot of commentary, people speculating what it means. there is some speculation it pimco.rther the pain at at the peak on was $300 billion. now it's down to 95. that is a pretty dramatic increase in assets. people are worried that cannot continue. lawsuit isr as the concerned, pimco has said this is without eric, correct? are they going to fight this in court? >> they said they will. the focus remains on investing in their clients. they are trying to stay focused on that instead of this. pimm: i want to bring in patty glaser. she is a partner at laser while, the law firm. she is representing bill gross and is on the phone now with us from california.
3:36 pm
thank you for joining us. tell us, if you can come in your own words, what is the suit contending, and what do you seek yet ? >> thank you for having me. both -- bill gross claiming constructive termination. this is his opportunity, obviously his viewpoint, with regard to what led to him eventually being pushed out. opportunity ine his view come in his words to tell the whole story. a pretty straightforward case. we are alleging breach of contract and efficiently -- effectively being pushed out. sent, and i and repeating to the extent he gets any compensation from the lawsuit, it is going to charity. he just wanted to tell his story, because he thinks his
3:37 pm
view of facts and understanding of fact has been misrepresented in the past. so this is his opportunity, and he is taking it. that makes a lot of sense, and he does seem to be very passionate. i understand part of the driver is to set the record straight. is there an clinician as to why now? he could have brought this earlier. is there a reason he waited a year? >> i think he did not want to act in any precipitous way. he did think about it long and hard. the reiteration to get it right from both perspective. take a it was wise to deep breath and get the lay of the land and decide in a contemplative fashion as opposed fashion for what he views to be the right thing.
3:38 pm
pimm: i am assuming you help out to do the paperwork and filing in santa ana, california. tell us some of the people named in the lawsuit. >> the only defendant are pimco and alley on asset management of america. of pimco.ate parent there are a variety of people mentioned in the lawsuit it decorative. former or existing executives of pimco who built the were involved in pushing him out. those people will be able to tell their story soon enough. in depositions that we take. lenny rate now the pimco statement. it says this lawsuit has no merit and our legal team will be responding in due course. the focus remains on our client in there and best and portfolios.
3:39 pm
lawsuit why is the being brought now? indications that if the suit could be settled out of court, bill gross would accept that? the fact thate you asked me that in the straightforward fashion, and i will answer in a straightforward fashion, i can't answer that. >> we were just talking about the potential impact of pimco and their clients. do you have a feel for that? if there will be any kind of client impact or if janice is participating in any sort of way? janice, billsyou clients through janice will not be affected in any way. he is the ability to take care of his clients.
3:40 pm
the proceeds are not going to bill gross or janice, they are going to charity. >> part of the description of the suit, it talks about how bill gross said he worked seven days a week, 17 hour days. that must be documentation is at the point of contention between what pimco said happened and what bill gross that happened. documents? what are the things that would show an independent observer what exactly the relationship was between bill gross and pimco? >> the one thing i want to comment, i am not aware that the complaint says what you just articulated. number two, what i am not going to do, and i do not think it would be appropriate down anyone standpoint to discuss evidence. our position we set forth in the complaint, we believe is backed up by documents and eventually
3:41 pm
by testimony. i am trying to answer your question as directly as i can, but the 17 hour days i do not believe is in the complaint. there is certainly a lot that will come out in evidence, and it does sound like there will be documentation, maybe not of that but other complaints. this is a long complaint and has a lot jammed in there. i'm wondering if you have something in there that you thought was a relevant fact or really struck you as out there that we have not heard before, that we did not know. i am curious what you thought with the big take away was?? was a fair question. i think it is a story that needs to be told from bill standpoint. if you have fallen the storyline -- follow the storyline all of
3:42 pm
the facts are important. view.pushed out in his i want to be very clear there is no particular fact. think it is the full and complete story. you have to read the whole complaint. i'm sure you have. one needs to read it to see what it is. is important from our standpoint. thank you for sharing your thoughts with us. patty glaser, the attorney representing bill gross and -- in his complaint against pimco. what to think mary childs who broke the story. thank you. coming up in the next 20 minutes , one of wall street's darlings. no netflix is raising prices. how much more revenue will a one dollar price increase bring in. we will also take a look at the
3:43 pm
federal reserve minutes. they reveal they are concerned about growth risk, specifically in china. what concerns do they have for an interest-rate increase in december? we will find out. headed toward a market close at the top of the hour. the sectors that are the winners and losers of the day next. ♪
3:44 pm
3:45 pm
pimm: good afternoon, and welcome to bloomberg "market i am pimm fox. our first story, first-time claims front of climate benefits fell to the lowest level since mid-july. jobless names total 263,000 last week. march claims have been below 300,000.
3:46 pm
a level economist say is consistent with a strong labor market. go bloombergas the in their john mack is flaming short-sellers and investors happily in derivatives for the wild swings in glencore share prices. than $6e wiped more billion of market value from glencore. glencore dropped a record 29% late last month. bloomberg news reporting sony is moving toward a sale of its half of the music publishing venture it owns with michael jackson's estate. sony atv music publishing has a beatles a number of songs. it reportedly has a value of around $2 billion. you can always get more business news and headlines at .loomberg.com the federal reserve has released
3:47 pm
minutes from the september meeting with the federal reserve once again decided not to raise interest rates. according to the minutes, they were worried about the growing risk of the global economy, as well as inflation forecast, particularly issues related to china. joining me is joe weisenthal, the cohost of what you miss. they were particularly focused on what was going on in china and the slow down. >> i don't think there was too much we learned. janet yellen made that clear after her press conference. the reaction to the minutes seem to be fairly bullish. prettye knows it is negative. completely erase the losses. feels like a totally new environment and where we were just a couple of weeks ago. pimm: what do we take away from the release of the minute? >> if we have not had the week job report friday, maybe it
3:48 pm
would have been more relative. are they on the verge of hiking or are they not? does not seem clear. given the economic data and the weak jobs report, i think they are not as important as perhaps they would have been if the data had been superstrong since then. pimm: what can we look forward to in terms of the forecast for when they will raise interest rates? one of the concerns that market volatility was relatively high. that was something faith talked about at the press conference. another concern was low inflation. some of the driven by low oil prices. today it hit 50. by a couple of measures they are they were in than mid-september. and just a few minutes we will get the earnings release from alcoa. we will follow the quarterly earnings results. will that have an influence in what the federal reserve does?
3:49 pm
it is not necessarily the federal reserve's job to worry about whether they make money. : after the last decisions they are like does the fed have a low fixed mandate as well? hard to imagine they would have a strong earnings mandate on top of everything else. you never know if they say there is a strong u.s. dollar. a lot of mention of the dollar. barring something extraordinary, it is hard to imagine a season having much effect on the earnings season. pimm: thank you very much, joe weisenthal. on the federal reserve. michael caroli, the chief u.s. economist at j.p. morgan securities. coming up in the half-hour of the bloomberg market day, epsy fall after arrival debut by amazon adding to the stock striking down the nasdaq.
3:50 pm
a look at the market movers coming up as we head into the close. ♪
3:51 pm
3:52 pm
pimm: this is the bloomberg "market day." i am pimm fox. as we headed to the close, i want to turn to julie hyman with a check on market. julie: we have seen stocks rally in the wake of the fed minutes. you were just talking to the economist that will be coming on in just a few moments. he said the fed minutes reading is generally dovish. that seems to support the gains we see in stocks, which is notable 2000 level now being breached for the s&p 500, the highest level since the celeb in august. the bond market does not necessarily seem to be reading it that way. if you take a look at what is we saw a initially drop in rates, but they came right back up. they are higher than where they
3:53 pm
were before the fed meeting minutes came out. to do more into the movement with stocks, all green on your screen as we have a relatively broad-based rally across stoxx energies and material leading the way. the underlying price of commodities. in terms of individual stocks that are leading, it is the traditional blue chips. .icrosoft, ge, chevron individual stocks lending the most to gain. i want to mention netflix as well. shares have been rising in the wake of announcing it was going to increase prices. netflix took a leg up after the news. one dollar more for the prescription. much, julieyou very hyman. for more, i want to bring in the founder of the firm specializing in credit opportunities and high
3:54 pm
yield, stress and distress securities, as well as value and event-driven situations. david, thank you for being here. i want to start off with epsy. etsy. company and we are going to do it. internet companies focus on disruption and forget they can be disrupted by a big and more influential player. amazon is way out of my core competency. i him -- i am hearing about this for the first time today. about biotech for just a second. julie was referencing this. the sector moving higher. been inut if you have the sector for the past couple of weeks, you have severe heartburn or something.
3:55 pm
quite a few did. we think the bonds particularly in things and valiant have been setting up an interesting shorts. the yield have widened dramatically with all the news. companies that deserve growth premiums that they can execute new and high-quality drugs. these are things that are not necessarily great at delivering new product but delivering the product where it needs to go. the distribution company. they are more cash cows. in those cases, the bonds have also widened. take a company like valiant or pfizer. in reality they are roll up. as you roll things up and you try to increase the price of environmentolitical the model starts showing wear and tear. does not mean it is not a high-quality company but means they will be paid more for the spread and stocks will reprice.
3:56 pm
taking a company like pfizer, people worry they will focus on cost -- cost-cutting and shareholder-friendly activities. rate for the shareholder, not so great for the bondholder. pimm: yum brands. we take advantage of opportunities in high-yield in distress. we have not lightened forstment-grade companies quite some time. they are substantially higher than the borrowing costs. young is a great example of the company set up. disappointing numbers in china. pimm: we have to leave it there. david sherman, founder of co-hansen investment management. this is the bloomberg "market to." coming up we will go the imf world bank meeting in lima, peru. ♪ , . .
3:57 pm
.
3:58 pm
3:59 pm
we are moments away from the closing bell. i am scarlet fu. joe: i'm joe weisenthal. alix: and i'm alix steel.
4:00 pm
[bell ringing] stocks closing higher, with gains in the s&p setting up for the highest closing level since october 20. is "what'de question you miss?" scarlet: we will talk to jpmorgan's chief u.s. economist. joe: plus we will talk to know baccalaureate joseph stiglitz, now the top advisor to the head of britain's labour party. how the richest all the rich are increasingly using shelters to dodge the tax man. scarlet: we begin with the markets. use s

20 Views

info Stream Only

Uploaded by TV Archive on